Japan Base Wages Rise Most Since 2005, Aiding Abe Reflation
- Shrinking workforce is pressuring companies to boost pay
- Key for Prime Minister Abe is for consumers to spend more
This article is for subscribers only.
Japan’s regular wages increased in July by the most in nearly ten years, aiding Prime Minister Shinzo Abe’s efforts to reflate the world’s third-biggest economy.
Base pay climbed 0.6 percent from a year earlier, the biggest increase since November 2005, the labor ministry said on Friday. Overall wages adjusted for inflation rose 0.3 percent, the first rise in more than two years, after a steep decline in the previous month.